Core Viewpoint - HCA Healthcare, Inc. reported strong first-quarter 2025 results with adjusted earnings per share (EPS) of $6.45, exceeding estimates and showing a year-over-year increase of 20.3% [1]. Financial Performance - Revenues for the first quarter reached $18.3 billion, reflecting a 5.7% year-over-year growth and slightly surpassing consensus estimates by 0.1% [1]. - Adjusted EBITDA increased to $3.7 billion from $3.4 billion in the previous year [4]. Operational Metrics - Same-facility equivalent admissions rose by 2.6% year over year, while same-facility admissions increased by 2.8%, both falling short of growth estimates [3]. - Same-facility revenue per equivalent admission grew by 2.9% year over year, missing the growth estimate of 3% [3]. - Same-facility inpatient surgeries saw a minor increase of 0.2% year over year, below the expected 2.2% growth, while outpatient surgeries decreased by 2.1% [4]. - Emergency room visits increased by 4% year over year [4]. Expense Overview - Salaries and benefits, supplies, and other operating expenses rose by 4.4% year over year to $14.6 billion, which was lower than the estimated $14.8 billion [4]. Cash Flow and Capital Deployment - Cash generated from operations was $1.7 billion, down from $2.5 billion in the previous year [8]. - The company repurchased shares worth $2.5 billion in the first quarter, with an available buyback capacity of $8.3 billion [9]. Financial Position - As of March 31, 2025, HCA Healthcare had cash and cash equivalents of $1 billion, down from $1.9 billion at the end of 2024 [6]. - Total assets increased to $59.8 billion from $59.5 billion at the end of 2024, while long-term debt rose to $41.1 billion from $38.3 billion [6]. Guidance - HCA Healthcare anticipates annual revenues between $72.8 billion and $75.8 billion for 2025, indicating a 5.2% rise from 2024 [10]. - Adjusted EBITDA is expected to range from $14.3 billion to $15.1 billion, reflecting a 5.9% growth from the previous year [10]. - EPS is forecasted to be between $24.05 and $25.85, implying a 13.6% increase from 2024 [11].